Ascencio (ASCE) Q1 24/25 earnings summary

Executive summary

• Rental income increased by 2.9% year-over-year to €13.4 million, driven by rent indexation and portfolio changes.

• EPRA Earnings rose 2.2% to €9.4 million; net result turned positive at €9.0 million from a €-6.0 million loss a year ago.

• EPRA occupancy rate remained high at 97.6%, with 11 leases signed and 6 short-term leases executed.

• Property portfolio fair value stable at €747.0 million; net asset value per share increased to €67.24.

Financial highlights

• Gross yield on the portfolio was 7.03%.

• EPRA Earnings per share rose to €1.43 from €1.40 year-over-year.

• Debt ratio (EPRA LTV) decreased to 40.8% from 42.1% sequentially.

• Average cost of debt for the quarter was 2.09%, down from 2.22% for the previous year.

Outlook and guidance

• Market volatility persists due to geopolitical tensions and US election uncertainty, with property market activity slowing.

• Company maintains a strong liquidity position with €97 million available on financing lines.